Federal Housing Finance Agency

Document Sample
Federal Housing Finance Agency Powered By Docstoc
					                     Federal Housing Finance Agency
                             400 7th Street, S.W., Washington, D.C. 20024
                                      Telephone: (202) 649-3800
                                      Facsimile: (202) 649-1 07l
                                             www.fufa.gov



April 23, 2012


The Honorable Tim Johnson
Chairman
Committee on Banking, Housing,
and Urban Affairs
United States Senate
Washington, DC 20510

Dear Chairman Johnson:

I am transmitting the Federal Housing Finance Agency's (FHFA) Federal Property Manager's
report in accordance with Section 110 of the Emergency Economic Stabilization Act of 2008
(EESA), titled Assistance to Homeowners. Section 110 of EESA directs Federal Property
Managers (FPM) to develop and implement plans to maximize assistance for homeowners and
encourage servicers of underlying mortgages to take advantage of programs to minimize
foreclosures. FHF A is a designated FPM in its role as conservator for Fannie Mae and Freddie
Mac. Each FPM is also required to report to Congress the number and types of loan
modifications and the number of foreclosures during the reporting period.

Reducing Enterprise losses by preventing avoidable foreclosures through loan modification and
mortgage refinances remains a top priority at FHFA. We continue to explore ways to maximize
assistance for homeowners and minimize preventable foreclosures consistent with the intent of
EESA.

Sincerely,


 ex-~
Peter Brereton
Associate Director for Congressional Affairs

Attachments
                       Federal Housing Finance Agency
                             400 7th Street, S.W. , Washington, D .C. 20024
                                      Telephone: (202) 649-3800
                                      Facs imi le: (202) 649- 107 1
                                             www.fhfa .gov



April 23, 2012


The Honorable Richard C. Shelby
Ranking Minority Member
Committee on Banking, Housing,
and Urban Affairs
United States Senate
Washington, DC 20510

Dear Senator Shelby:

I am transmitting the Federal Housing Finance Agency's (FHFA) Federal Property Manager's
report in accordance with Section 110 of the Emergency Economic Stabilization Act of 2008
(EESA), titled Assistance to Homeowners. Section 110 of EESA directs Federal Property
Managers (FPM) to develop and implement plans to maximize assistance for homeowners and
encourage servicers of underlying mortgages to take advantage of programs to minimize
foreclosures. FHF A is a designated FPM in its role as conservator for Fannie Mae and Freddie
Mac. Each FPM is also required to report to Congress the number and types of loan
modifications and the number of foreclosures during the reporting period.

Reducing Enterprise losses by preventing avoidable foreclosures through loan modification and
mortgage refinances remains a top priority at FHFA. We continue to explore ways to maximize
assistance for homeowners and minimize preventable foreclosures consistent with the intent of
EESA.

Sincerely,


P~~
Peter Brereton
Associate Director for Congressional Affairs

Attachments
                    Federal Housing Finance Agency
                            400 7th Street, S.W. , Washington, D.C. 20024
                                     Telephone: (202) 649-3800
                                     Facsimi le: (202) 649- 1071
                                            www.thfa .gov


April 23 , 2012


The Honorable Spencer Bachus
Chairman
Committee on Financial Services
United States House of Representatives
Washington, DC 20515

Dear Chairman Bachus:

I am transmitting the Federal Housing Finance Agency's (FHFA) Federal Property Manager's
report in accordance with Section 110 of the Emergency Economic Stabilization Act of 2008
(EESA), titled Assistance to Homeowners. Section 110 of EESA directs Federal Property
Managers (FPM) to develop and implement plans to maximize assistance for homeowners and
encourage servicers of underlying mortgages to take advantage of programs to minimize
foreclosures. FHF A is a designated FPM in its role as conservator for Fannie Mae and Freddie
Mac. Each FPM is also required to report to Congress the number and types of loan
modifications and the number of foreclosures during the reporting period.

Reducing Enterprise losses by preventing avoidable foreclosures through loan modification and
mortgage refinances remains a top priority at FHFA. We continue to explore ways to maximize
assistance for homeowners and minimize preventable foreclosures consistent with the intent of
EESA.

Sincerely,



Peter Brereton
Associate Director for Congressional Affairs

Attachments
                    Federal Housing Finance Agency
                            400 7th Street, S.W., Washington , D.C. 20024
                                     Telephone: (202) 649-3800
                                     Facsimi le: (202) 649-1071
                                            www.fufa.gov



April23, 2012


The Honorable Barney Frank
Ranking Member
Committee on Financial Services
United States House of Representatives
Washington, DC 20515

Dear Ranking Member Frank:

I am transmitting the Federal Housing Finance Agency's (FHFA) Federal Property Manager's
report in accordance with Section 110 of the Emergency Economic Stabilization Act of 2008
(EESA), titled Assistance to Homeowners. Section 110 of EESA directs Federal Property
Managers (FPM) to develop and implement plans to maximize assistance for homeowners and
encourage servicers of underlying mortgages to take advantage of programs to minimize
foreclosures . FHF A is a designated FPM in its role as conservator for Fannie Mae and Freddie
Mac. Each FPM is also required to report to Congress the number and types of loan
modifications and the number of foreclosures during the reporting period.

Reducing Enterprise losses by preventing avoidable foreclosures through loan modification and
mortgage refinances remains a top priority at FHFA. We continue to explore ways to maximize
assistance for homeowners and minimize preventable foreclosures consistent with the intent of
EESA.

Sincerely,



Peter Brereton
Associate Director for Congressional Affairs

Attachments
Federal Housing Finance Agency

Foreclosure Prevention & Refinance Report
February 2012

FHFA Federal Property Manager's Report

This report contains data on foreclosure prevention activity, refinance and MHA program activity
of Fannie Mae and Freddie Mac (the Enterprises) through February 2012.
Federal Housing Finance Agency                                                                                                                                                                    Foreclosure Prevention & Refinance Report
                                                                                                                                                                                                                             February 2012


                                          60-plus-days Delinquency Rates                                                                                                 Foreclosure Prevention Actions Completed
                                       Delinquency rates declined in February.                                                                          Completed foreclosure prevention actions increased in February driven by
                                                                                                                                                                 increases in loan modifications and repayment plans.
20%                                                                                                                                              80



15%                                                                                                                                              60                                                                      Other2        Short Sales
                                                                                                                                                                                             10




                                                                                                                       # of loans in thousands
                                                                                                       13.0%                                                                                                                           & Deeds-In-Lieu
                                                                                                           12.5%                                       8            11                       2
                                                                                                                                                             11           11     11     10          11
                                                                             Original Credit Score < 6601                                                           3                                    12         12
                                                                                                                                                       6     1                   2      2           2         11                  11
10%                                                                                                                                              40                       2                  17          2          2                    Forbearance
                                                                                                                                                             14     16                                        2            11     2
                                                                                                                                                       15                        15     15          17                                   Plans3
                                                                                                                                                                          15                             15         14     2
                                                                                                                                                                                                              13                         Repayment
                                                                                                                                                                                                                                  16
                           4.5%                                                            Total                                                                                                                           13            Plans3
      5%                                                                                               4.4% 4.3%                                 20
                                                                                                      3.2% 3.1%                                              30     28           28          32
                                                                                                                                                       25                 25            26          25   24   23    24
                           1.5%                                              Original Credit Score >= 660                                                                                                                  18     19 Loan
                                                                                                                                                                                                                                        Modifications
      0% 0.9%                                                                                                                                    0
                           1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 Jan- Feb-
                                                                                                            12   12                                   Feb Mar Apr May Jun               Jul Aug Sep Oct Nov Dec Jan Feb
                                                                                                                                                      11 11 11 11 11                    11 11 11 11 11 11 12 12
                                                  Completed loan modifications                                                                    HAMP Statistics
                                       Loan modifications increased slightly in February.
                          40                                                                                                                      Cumulative from April 2009 through                               Jan-12                Feb-12
                                                                                                                                                  Trial Modifications Ever Started                             943,890                   951,789
                          30
                                                                                                                                                  Less:
# of loans in thousands




                                                                   9                                                                                     Trials Disqualified                                   (97,695)                 (98,169)
                                     12                                                                                                                  Trials Cancelled                                     (322,037)                (323,030)
                                           11         11     9           6
                          20   12
                                                 9                            7
                                                                                    7
                                                                                          6                                                              Permanent Modifications                              (490,120)                (499,372)
                                                                                                          Freddie
                                                                                                5     5   Mac
                                                                                                                                                  Trials Remaining Active                                       34,038                   31,218

                          10
                                                                  24                                      Fannie                                  Permanent Modifications Started                              490,120                   499,372
                                     18   17          17    18          19    18         18               Mae
                                                16                                 16                14                                           Less:
                               14                                                              14
                                                                                                                                                        Modifications Defaulted                                (85,346)                (88,792)
                          0                                                                                                                             Modifications Paid off                                  (2,147)                 (2,286)
                               Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb-
                                11 11 11 11 11 11 11 11 11 11 11 12 12
                                                                                                                                                  Active Permanent Modifications                               402,627                 408,294
                                                                                                                                                  Source: HAMP system of record (IR2)
1 Includes loans with missing original credit score.
2 Consists of HomeSaver Advance (Fannie Mae) and Charge-offs-in-lieu.
3 Includes loans that were 30+ days delinquent at initiation of the plan. In addition, the completed forbearance plans data have been revised to exclude HAMP.
4 HAMP trial modifications are based on the first trial payment posted date. HAMP permanent modifications are based on the effective date of modification. As of February 29, 2012, Fannie Mae had completed 250,200 HAMP permanent

modifications and Freddie Mac had completed nearly 158,100 HAMP permanent modifications.

                           Please see glossary on page 15                                                                                                                                                                               Page 2
  Federal Housing Finance Agency                                                                                                                                                                           Foreclosure Prevention & Refinance Report
                                                                                                                                                                                                                                      February 2012


                                       Repayment Plans and Forbearance Plans Completed                                                                                                                    Short Sales
                               Repayment plans increased while forbearance plans remained steady                                                                                  Completed short sales remained relatively flat in February.
                                                         in February.
                          25                                                                                                                                       12


                                                                                                                                                                   10
                          20
                                                                                   2                                                                                                                                              4
# of loans in thousands




                                                                                                                        Forbearance                                                                                                                 Freddie




                                                                                                                                         # of loans in thousands
                                 6             3                             2                                     2                                                                                                    4
                                                                                                                        Plans*                                     8          4       3    4     4                4          4                      Mac
                                                      2         2                         2                                                                                                                 4                           4       4
                          15                                          2                               2                                                                                               4
                                        1                                                       2
                                                                                                             2                                                     6     3
                          10                                                                                             Repayment
                                                                                  17                                                                                                                                                                Fannie
                                              16                            17                                    16     Plans                                     4
                                15                   15        15     15                 15                                                                                                                                       7                 Mae
                                       14                                                      13     14                                                                      6       6    6     6                      6
                                                                                                            13                                                                                              5     6          6          6       6
                          5                                                                                                                                                                           5
                                                                                                                                                                   2     4


                          0                                                                                                                                        0
                               Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb-                                                                         Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb-
                                11 11 11 11 11 11 11 11 11 11 11 12 12                                                                                                   11   11   11   11   11   11   11   11   11   11   11   12   12
                          * Data have been revised to exclude HAMP.
                                                                                                                    Foreclosure Prevention Activity
                                                   Since the first full quarter in conservatorship (4Q08), combined completed foreclosure prevention actions total over 2.2 million.

                                                          (Completed Actions)                                           Full Year     Full Year                          Full Year         YTD        Conservatorship
                                                                                                                          2009          2010                               2011            2012          to Date1
                                                          Home Retention Actions
                                                          Repayment Plans                                               142,360       185,954                            181,558          28,910                  552,091
                                                          Forbearance Plans                                              25,227        63,024                             34,423           4,150                  128,940
                                                          Charge-offs-in-lieu                                             2,247         3,118                              2,263             334                    8,235
                                                          HomeSaver Advance (Fannie)                                     39,199         5,191                                   -               -                  70,178
                                                          Loan Modifications                                            163,647       575,022                            322,108          37,337                1,121,891
                                                                Total                                                   372,680       832,309                            540,352          70,731                1,881,335
                                                          Nonforeclosure - Home Forfeiture Actions
                                                          Short Sales                           55,447                                107,953                            115,237          19,425                 304,254
                                                          Deeds-in-lieu                          2,971                                  6,043                             10,231           2,310                  22,095
                                                                Total                                                    58,418       113,996                            125,468          21,735                 326,349
                                                                     Total Foreclosure Prevention                       431,098       946,305                            665,820          92,466                2,207,684
                                                                     Actions
                                                          1
                                                              Since the first full quarter in conservatorship (4Q08).

                               Please see glossary on page 15                                                                                                                                                                               Page 3
Federal Housing Finance Agency                                                                       Foreclosure Prevention & Refinance Report
                                                                                                                                February 2012


                                                  Mortgage Rates and Refinance Volumes
                                  Refinance volume continued to edge down but remained strong in
                                  February as mortgage rates continued to fall to new historic lows.


                 A B      C       D           E              F          G              H                      I                    J

1,000,000
          Aug
  900,000 6.48
            Sep
  800,000 6.04                Dec
                                           Jun
                                           5.42
  700,000                     5.29
                                      Mar             Sep     Dec    Mar
                                                      5.06                                          Mar                            Number of
                                      5.00                    4.93   4.97
  600,000                                                                     Jun           Dec     4.84
                                                                                                                                   Mortgages
                                                                              4.74          4.71                                   Refinanced
  500,000                                                                            Sep                                           by Fannie
                                                                                     4.35                                          Mae and
                                                                                                                    Sep
  400,000                                                                                                  Jun      4.11           Freddie Mac
                                                                                                           4.51
  300,000                                                                                                                                Feb
                                                                                                                                        3.89
                                                                                                                           Dec
  200,000                                                                                                                  3.96
                                                                                                                                       Average
                                                                                                                                       Interest Rate
  100,000                                                                                                                              on a 30-Year
                                                                                                                                       Mortgage
        0
                   Sep     Dec       Mar     Jun     Sep      Dec    Mar    Jun      Sep    Dec    Mar     Jun     Sep     Dec Feb
                   08      08        09       09     09       09     10      10      10     10     11       11      11     11 12
A - Highest rate in 2008 for a 30-year mortgage.                        G - Treasury rates rose on optimism of a recovering U.S.
B - GSEs placed into conservatorship on 09/06/08.                           economy and a temporary lull in news of a developing
C - Fed announces MBS purchase program on 11/25/08.                         debt crisis in Europe.

D - Making Home Affordable announcement 02/20/09.                       H - 30-year mortgage rates reached 4.17% in early November,
                                                                            marking the lowest level observed since Freddie
E - Treasury rates sharply rose and reached a 2009 high                     Mac began tracking mortgage rates in 1971.
   on a better than expected unemployment report in June.
                                                                        I - Treasury rates fell amid ongoing concerns of a growing debt
F - Treasury rates fell sharply after Dubai sought to delay                 crisis in Europe.
    sovereign debt payments.
                                                                        J - 30-year mortgage rates declined to new historic lows in February.
                                                                                                                                          Page 4
Federal Housing Finance Agency                                                                                       Foreclosure Prevention & Refinance Report
                                                                                                                                                February 2012


                      Fannie Mae and Freddie Mac Refinance Volumes                                   Fannie Mae and Freddie Mac HARP vs Total Refinance
  Fannie Mae and Freddie Mac have refinanced over 1.1 million loans through           HARP volume as a percentage of total refinance volume increased to 15% in
 the HARP program since inception. The number of loans refinanced through             January and February due to the enhancements made to HARP. The total
 HARP with LTV over 105% increased 22% in the first two months of 2012 due            HARP volume in the first two months of 2012 exceeded HARP volume of the
                          to HARP enhancements.                                       entire 4Q11.
                                              Feb      Year to   Inception to

Total Refinances
                                             2012       Date         Date1
                                                                                                             HARP Refinance, Quarterly Volume
   Fannie Mae                                211,430   432,710    6,494,674                                        (Number of loans in thousands)
   Freddie Mac                               123,603   254,257    4,232,111           160
     Total                                   335,033   686,967   10,726,785                                                    142
                                                                                      140
   HARP LTV >80% -105%                                                                                                               130
      Fannie Mae                              19,425    44,584      549,416           120
      Freddie Mac                             15,179    36,432      462,837
        Total                                 34,604    81,016    1,012,253           100
                                                                                                             101         100 72                               101
                                                                                                                                      66          93
    HARP LTV >105% -125%                                                                          86                88                      86 90                   Freddie
                                                                                       80               74 47
      Fannie Mae                               3,828     7,934        44,623                                              50                      40 47 Mac
      Freddie Mac                              4,557    10,217        64,144                      40                41                      40 39
                                                                                       60               32
        Total                                  8,385    18,151       108,767
    HARP LTV >125%                                                                     40
                                                                                             30                70 64             Fannie
      Fannie Mae                                 753       753           753                 14 46 42 54 47 51       47 51 53 53 Mae
                                                                                       20
      Freddie Mac                                795       795           795
        Total                                  1,548     1,548         1,548                 16
                                                                                        0
    All Other Streamlined Refis                                                              2Q    3Q   4Q    1Q    2Q    3Q    4Q    1Q    2Q      3Q   4Q   Jan
                                                                                             09    09   09    10    10    10    10    11    11      11   11   Feb
        Fannie Mae            41,913                    83,536    1,265,259       Percent
        Freddie Mac           19,378                    40,927      715,564       of Total   2%   8% 10% 14% 14% 11% 10% 13% 16% 14% 9% 15%
          Total               61,291                   124,463    1,980,823       Refinances
Notes:
Initially HARP Refinance Loans were defined as Fannie Mae to Fannie Mae and Freddie Mac to Freddie Mac first-lien refinance loans with limited and no cash out that
are owner-occupied with loan-to-value ratios over 80 percent up to 125 percent.
HARP 2.0: On October 24, 2011, FHFA, Fannie Mae and Freddie Mac announced HARP changes to reach more borrowers. Effective December 1, 2011, existing
Enterprise borrowers who are current on their mortgage payments can refinance and reduce their monthly mortgage payments at loan-to-value ratios above 80 percent
without any maximum loan-to-value limit.
All Other Streamlined Refis are streamlined refinances that do not qualify as HARP refinances. Fannie Mae implements streamlined refinances through the Refi Plus
product for manual underwriting and DU Refi Plus product for loans underwritten through Desktop Underwriter. The product is available for refinances of existing Fannie
Mae loans only. Freddie Mac implements streamlined refinances through the Relief Refinance Mortgage product. Loans may be originated by any Freddie Mac
approved servicer.

1Inception   to Date - Since April 1, 2009


                                                                                                                                                                    Page 5
Federal Housing Finance Agency                                                                                                       Foreclosure Prevention & Refinance Report
                                                                                                                                                                February 2012
 Appendix: Data Tables

1(i) Enterprises Combined - Mortgage Performance (at period end)

     (# of loans in thousands)             Feb-11   Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12

Total Loans Serviced                       29,799   29,787   29,737   29,672   29,606   29,516   29,414   29,325   29,188   29,094    29,045     29,021     28,917
Original Credit Score >= 660               25,780   25,802   25,781   25,744   25,707   25,644   25,573   25,509   25,399   25,335    25,320     25,322     25,248
Original Credit Score < 660                 4,019    3,985    3,957    3,928    3,899    3,872    3,841    3,817    3,788    3,759     3,725      3,699      3,670

  Total Delinquent Loans                    2,139    1,936    1,953    1,938    1,938    1,986    1,933    1,923    1,916    1,934     1,909      1,871      1,805
  Original Credit Score >= 660              1,300    1,178    1,184    1,173    1,169    1,196    1,164    1,163    1,160    1,170     1,150      1,131      1,107
  Original Credit Score < 660                 839      758      769      765      769      790      770      761      756      764       758        740        698

    30 - 59 Days Delinquent                   672      553      593      593      605     647       612      607      600      619       612        580        554
    Original Credit Score >= 660              384      307      327      327      331     356       335      336      333      343       336        320        314
    Original Credit Score < 660               288      246      266      266      274     291       277      271      267      276       277        260        240

    60 - 89 Days Delinquent                   236      201      200      203      206     217       213      213      214      214       210        204        186
    Original Credit Score >= 660              133      116      113      114      115     120       118      119      120      119       116        112        105
    Original Credit Score < 660               103       85       87       89       92      97        95       94       94       95        94         92         81

    60-plus-days Delinquent                 1,467    1,382    1,360    1,345    1,333    1,339    1,321    1,316    1,316    1,315     1,296      1,291      1,251
    Original Credit Score >= 660              916      871      857      847      838      840      829      827      828      827       814        811        793
    Original Credit Score < 660               551      511      503      498      495      499      492      489      488      488       482        480        458

Percent of Total Loans Serviced

  Total Delinquent Loans                   7.18%    6.50%    6.57%    6.53%    6.54%    6.73%    6.57%    6.56%    6.56%    6.65%     6.57%     6.45%      6.24%
  Original Credit Score >= 660              5.04%    4.57%    4.59%    4.56%    4.55%    4.66%    4.55%    4.56%    4.57%    4.62%     4.54%     4.47%      4.38%
  Original Credit Score < 660              20.87%   19.01%   19.43%   19.47%   19.72%   20.41%   20.04%   19.93%   19.95%   20.33%    20.36%    20.01%     19.03%

    30 - 59 Days Delinquent                2.25%    1.86%    1.99%    2.00%    2.04%    2.19%    2.08%    2.07%    2.06%    2.13%     2.11%      2.00%      1.92%
    Original Credit Score >= 660            1.49%    1.19%    1.27%    1.27%    1.29%    1.39%    1.31%    1.32%    1.31%    1.35%     1.33%      1.27%      1.24%
    Original Credit Score < 660             7.16%    6.18%    6.72%    6.78%    7.02%    7.51%    7.22%    7.10%    7.06%    7.34%     7.42%      7.03%      6.55%

    60 - 89 Days Delinquent                0.79%    0.67%    0.67%    0.68%    0.70%    0.73%    0.72%    0.73%    0.73%    0.74%     0.72%      0.70%      0.64%
    Original Credit Score >= 660            0.51%    0.45%    0.44%    0.44%    0.45%    0.47%    0.46%    0.47%    0.47%    0.47%     0.46%      0.44%      0.42%
    Original Credit Score < 660             2.56%    2.13%    2.20%    2.27%    2.35%    2.50%    2.47%    2.46%    2.48%    2.52%     2.52%      2.48%      2.20%

    60-plus-days Delinquent                4.92%    4.64%    4.57%    4.53%    4.50%    4.54%    4.49%    4.49%    4.51%    4.52%     4.46%     4.45%      4.33%
    Original Credit Score >= 660            3.55%    3.38%    3.32%    3.29%    3.26%    3.27%    3.24%    3.24%    3.26%    3.27%     3.22%     3.20%      3.14%
    Original Credit Score < 660            13.71%   12.82%   12.71%   12.68%   12.70%   12.90%   12.82%   12.82%   12.89%   12.99%    12.93%    12.98%     12.48%

    Serious Delinquency Rate               4.18%    4.02%    3.94%    3.90%    3.85%    3.86%    3.82%    3.81%    3.82%    3.83%     3.78%      3.78%      3.72%

    In Bankruptcy                          0.50%    0.51%    0.52%     0.53%   0.54%    0.54%    0.54%    0.54%    0.54%    0.56%     0.58%      0.58%      0.60%




          Please see glossary on page 15                                                                                                                             Page 6
Federal Housing Finance Agency                                                                                                       Foreclosure Prevention & Refinance Report
                                                                                                                                                                February 2012
 Appendix: Data Tables

1(ii) Fannie Mae - Mortgage Performance (at period end)

     (# of loans in thousands)             Feb-11   Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12

Total Loans Serviced                       18,003   18,022   17,990   17,949   17,917   17,872   17,814   17,778   17,711   17,691    17,721     17,727     17,685
Original Credit Score >= 660               15,489   15,529   15,515   15,494   15,480   15,452   15,413   15,392   15,343   15,340    15,391     15,413     15,389
Original Credit Score < 660                 2,514    2,493    2,474    2,456    2,437    2,420    2,401    2,386    2,368    2,351     2,330      2,314      2,296

  Total Delinquent Loans                    1,377    1,249    1,257    1,248    1,248    1,275    1,242    1,233    1,226    1,235     1,214      1,193      1,150
  Original Credit Score >= 660                833      756      758      751      748      763      743      741      738      743       727        717        702
  Original Credit Score < 660                 544      492      499      497      500      512      499      492      488      492       487        476        448

    30 - 59 Days Delinquent                   426      351      375      376      384     408       388      386      381      391       387        371        355
    Original Credit Score >= 660              240      191      203      203      207     221       209      211      208      214       209        202        199
    Original Credit Score < 660               186      160      172      172      177     187       179      175      173      177       178        169        156

    60 - 89 Days Delinquent                   149      127      127      128      130     137       134      134      135      135       133        129        117
    Original Credit Score >= 660               83       72       71       71       71      75        74       74       75       74        72         70         66
    Original Credit Score < 660                66       54       56       57       59      62        61       60       60       60        60         59         52

    60-plus-days Delinquent                   951      898      882      872      864     867       853      847      845      844       828        822        796
    Original Credit Score >= 660              593      565      555      548      541     542       534      531      530      530       518        515        503
    Original Credit Score < 660               358      333      327      325      323     325       319      316      315      315       309        307        292

Percent of Total Loans Serviced

  Total Delinquent Loans                   7.65%    6.93%    6.99%    6.95%    6.96%    7.14%    6.97%    6.94%    6.92%    6.98%     6.85%     6.73%      6.50%
  Original Credit Score >= 660              5.38%    4.87%    4.89%    4.85%    4.83%    4.94%    4.82%    4.82%    4.81%    4.85%     4.73%     4.65%      4.56%
  Original Credit Score < 660              21.63%   19.76%   20.17%   20.24%   20.51%   21.16%   20.78%   20.61%   20.61%   20.91%    20.89%    20.58%     19.52%

    30 - 59 Days Delinquent                2.37%    1.95%    2.08%    2.09%    2.14%    2.28%    2.18%    2.17%    2.15%    2.21%     2.18%      2.09%      2.01%
    Original Credit Score >= 660            1.55%    1.23%    1.31%    1.31%    1.34%    1.43%    1.36%    1.37%    1.36%    1.39%     1.36%      1.31%      1.29%
    Original Credit Score < 660             7.41%    6.41%    6.94%    7.02%    7.27%    7.73%    7.47%    7.35%    7.30%    7.53%     7.63%      7.30%      6.78%

    60 - 89 Days Delinquent                0.83%    0.70%    0.70%    0.71%    0.73%    0.76%    0.75%    0.75%    0.76%    0.76%     0.75%      0.73%      0.66%
    Original Credit Score >= 660            0.54%    0.47%    0.46%    0.46%    0.46%    0.48%    0.48%    0.48%    0.49%    0.48%     0.47%      0.45%      0.43%
    Original Credit Score < 660             2.62%    2.18%    2.25%    2.33%    2.41%    2.56%    2.52%    2.51%    2.53%    2.57%     2.58%      2.54%      2.24%

    60-plus-days Delinquent                5.28%    4.98%    4.90%    4.86%    4.82%    4.85%    4.79%    4.76%    4.77%    4.77%     4.67%     4.64%      4.50%
    Original Credit Score >= 660            3.83%    3.64%    3.58%    3.54%    3.50%    3.51%    3.46%    3.45%    3.46%    3.45%     3.37%     3.34%      3.27%
    Original Credit Score < 660            14.23%   13.35%   13.22%   13.22%   13.24%   13.43%   13.31%   13.26%   13.30%   13.38%    13.26%    13.28%     12.73%

    Serious Delinquency Rate               4.44%    4.27%    4.18%    4.14%    4.08%    4.08%    4.03%    4.00%    4.00%    4.00%     3.91%      3.90%      3.82%

    In Bankruptcy                          0.53%    0.54%    0.56%     0.56%   0.57%    0.57%    0.57%    0.56%    0.57%    0.58%     0.62%      0.62%      0.65%




          Please see glossary on page 15                                                                                                                             Page 7
Federal Housing Finance Agency                                                                                                       Foreclosure Prevention & Refinance Report
                                                                                                                                                                February 2012
 Appendix: Data Tables

1(iii) Freddie Mac - Mortgage Performance (at period end)

     (# of loans in thousands)             Feb-11   Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12

Total Loans Serviced                       11,796   11,765   11,748   11,723   11,689   11,644   11,600   11,547   11,476   11,403    11,324     11,294     11,232
Original Credit Score >= 660               10,291   10,273   10,265   10,250   10,227   10,192   10,160   10,116   10,057    9,995     9,929      9,909      9,858
Original Credit Score < 660                 1,505    1,493    1,483    1,473    1,462    1,452    1,440    1,431    1,420    1,408     1,395      1,385      1,374

  Total Delinquent Loans                      762      687      696      690      690     710       691      690      689      699       694        678        655
  Original Credit Score >= 660                467      422      426      422      421     432       421      421      422      427       423        414        404
  Original Credit Score < 660                 295      265      270      268      269     278       271      269      268      272       271        264        250

    30 - 59 Days Delinquent                   246      202      218      218      221     238       223      221      219      228       226        209        200
    Original Credit Score >= 660              144      115      124      124      124     134       126      125      124      129       127        118        115
    Original Credit Score < 660               101       87       94       94       96     104        98       96       94       99        99         91         85

    60 - 89 Days Delinquent                    87       74       74       75       76      80        79       79       79       79        78         75         69
    Original Credit Score >= 660               50       43       43       43       43      45        44       45       45       45        44         42         40
    Original Credit Score < 660                37       31       31       32       33      35        34       34       34       34        34         33         29

    60-plus-days Delinquent                   516      485      477      472      469     472       468      469      471      471       469        468        455
    Original Credit Score >= 660              323      306      302      299      296     298       295      296      298      298       296        295        289
    Original Credit Score < 660               193      178      176      174      173     174       173      173      173      174       173        173        166

Percent of Total Loans Serviced

  Total Delinquent Loans                   6.46%    5.84%    5.92%    5.89%    5.90%    6.10%    5.96%    5.98%    6.01%    6.13%     6.13%      6.00%     5.83%
  Original Credit Score >= 660              4.54%    4.11%    4.15%    4.12%    4.11%    4.24%    4.14%    4.16%    4.19%    4.27%     4.26%      4.18%     4.10%
  Original Credit Score < 660              19.59%   17.75%   18.19%   18.18%   18.40%   19.17%   18.79%   18.78%   18.84%   19.34%    19.46%     19.06%    18.23%

    30 - 59 Days Delinquent                2.08%    1.72%    1.86%    1.86%    1.89%    2.05%    1.93%    1.91%    1.91%    2.00%     1.99%      1.85%      1.78%
    Original Credit Score >= 660            1.40%    1.12%    1.21%    1.21%    1.22%    1.32%    1.24%    1.24%    1.23%    1.29%     1.28%      1.19%      1.17%
    Original Credit Score < 660             6.74%    5.80%    6.35%    6.39%    6.59%    7.16%    6.79%    6.70%    6.65%    7.01%     7.08%      6.58%      6.16%

    60 - 89 Days Delinquent                0.74%    0.63%    0.63%    0.64%    0.65%    0.69%    0.68%    0.68%    0.69%    0.70%     0.68%      0.67%      0.61%
    Original Credit Score >= 660            0.48%    0.42%    0.41%    0.42%    0.42%    0.44%    0.44%    0.44%    0.45%    0.45%     0.44%      0.43%      0.40%
    Original Credit Score < 660             2.46%    2.05%    2.11%    2.17%    2.25%    2.40%    2.39%    2.38%    2.40%    2.45%     2.43%      2.39%      2.12%

    60-plus-days Delinquent                4.38%    4.12%    4.06%    4.03%    4.01%    4.05%    4.03%    4.06%    4.10%    4.13%     4.14%      4.15%     4.05%
    Original Credit Score >= 660            3.14%    2.98%    2.94%    2.91%    2.90%    2.92%    2.90%    2.93%    2.96%    2.98%     2.98%      2.98%     2.93%
    Original Credit Score < 660            12.85%   11.95%   11.84%   11.79%   11.81%   12.01%   12.01%   12.08%   12.19%   12.33%    12.38%     12.48%    12.07%

    Serious Delinquency Rate               3.78%    3.63%    3.57%    3.53%    3.50%    3.51%    3.49%    3.51%    3.54%    3.57%     3.58%      3.59%      3.57%

    In Bankruptcy                          0.46%    0.45%    0.46%     0.48%   0.48%    0.49%    0.49%    0.49%    0.50%    0.52%     0.53%      0.52%      0.53%




          Please see glossary on page 15                                                                                                                             Page 8
Federal Housing Finance Agency                                                                                                                                                                  Foreclosure Prevention & Refinance Report
                                                                                                                                                                                                                           February 2012
    Appendix: Data Tables

2 Enterprises Combined - Foreclosure Prevention Actions (# of loans) 1

                                                                                                                                                                                                                                                 YTD
                                                   Feb-11        Mar-11         Apr-11       May-11         Jun-11         Jul-11       Aug-11         Sep-11        Oct-11        Nov-11        Dec-11        Jan-12        Feb-12
                                                                                                                                                                                                                                                2012
Starts2
HAMP Active Trial & Perm. - Cum.                   373,825       384,449       394,307       403,040       408,633        413,123       418,180       422,591       426,324       431,772       436,199       436,665        439,512          439,512
Repayment Plans                                     16,576        50,194        39,417        40,776        41,973         44,262        45,758        38,131        34,444        33,233        32,222        35,599         31,564           67,163
Forbearance Plans                                   26,079        35,769        30,820        35,773        29,020         35,939        30,241        24,815        24,804        21,088        21,566        23,035         12,109           35,144

Completed
Repayment Plans3                                   14,914        13,737        16,185         15,047        14,658        14,648        16,780        17,441        14,580         13,134        14,258        12,557        16,353           28,910
Forbearance Plans3                                  6,279         1,150         3,026          2,482         2,205         2,133         2,443         2,430         2,310          2,430         2,363         1,877         2,273            4,150
Charge-offs-in-lieu                                     86          156           116            233           253           341           188           272           121            235           156           156           178              334
HomeSaver Advance (Fannie)                            -             -             -              -             -             -             -             -             -              -             -             -             -                -
Loan Modifications                                 25,424        29,717        28,020         25,310        27,884        26,308        32,387        24,887        24,069         22,956        24,086        18,385        18,952           37,337
 Home Retention Actions                            46,703        44,760         47,347        43,072        45,000        43,430        51,798        45,030         41,080        38,755        40,863        32,975        37,756           70,731

Short Sales                                          7,827       10,110          9,701        10,082         9,700         8,914          9,508         9,842       10,703          9,910        11,172         9,653          9,772          19,425
Deeds-in-lieu                                          540          679            948           976           803           687            900           958          997            965         1,148         1,159          1,151           2,310
 Nonforeclosure -
                                                     8,367       10,789         10,649        11,058        10,503          9,601       10,408        10,800         11,700        10,875        12,320        10,812        10,923           21,735
 Home Forfeiture Actions

      Total Foreclosure
                                                   55,070        55,549         57,996        54,130        55,503        53,031        62,206        55,830         52,780        49,630        53,183        43,787        48,679           92,466
      Prevention Actions

Percent of Total Foreclosure Prevention Actions

Repayment Plans                                         27%           25%           28%           28%           26%           28%            27%           31%           28%           26%           27%           29%            34%            31%
Forbearance Plans                                       11%            2%            5%            5%            4%            4%             4%            4%            4%            5%            4%            4%             5%             4%
Charge-offs in Lieu                                      0%            0%            0%            0%            0%            1%             0%            0%            0%            0%            0%            0%             0%             0%
HomeSaver Advance (Fannie)                               0%            0%            0%            0%            0%            0%             0%            0%            0%            0%            0%            0%             0%             0%
Loan Modifications                                      46%           53%           48%           47%           50%           50%            52%           45%           46%           46%           45%           42%            39%            40%
 Home Retention Actions                                 85%           81%           82%           80%           81%           82%            83%           81%           78%           78%           77%           75%            78%            76%

Short Sales                                             14%           18%            17%           19%           17%           17%           15%           18%            20%           20%           21%           22%           20%            21%
Deeds-in-lieu                                            1%            1%             2%            2%            1%            1%            1%            2%             2%            2%            2%            3%            2%             2%
 Nonforeclosure -
                                                        15%           19%           18%           20%           19%           18%            17%           19%           22%           22%           23%           25%            22%            24%
 Home Forfeiture Actions

1 The number of foreclosure prevention actions reported in this table may not tie to the Enterprises' financial statements due to timing differences in reporting systems.
2 Forbearance plans initiated include HAMP trials initiated by servicers under the MHA program. In addition, starting in August, forbearance plans initiated include Fannie Mae's HomeSaver forbearance plans. HAMP trial modifications are
based on the first trial payment posted date. HAMP permanent modifications are based on the effective date of modification. As of February 29, 2012, Fannie Mae had completed 250,200 HAMP permanent modifications and Freddie Mac
had completed nearly 158,100 HAMP permanent modifications.
3 Includes loans that were 30+ days delinquent at initiation of the plan. In addition, the completed forbearance plans data have been revised to exclude HAMP.




             Please see glossary on page 15                                                                                                                                                                                              Page 9
Federal Housing Finance Agency                                                                                                                    Foreclosure Prevention & Refinance Report
                                                                                                                                                                             February 2012
 Appendix: Data Tables

3(i) Enterprises Combined - Loan Modifications *

                                                                                                                                                                                       YTD
                                                  Feb-11         Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12
                                                                                                                                                                                      2012
Loan Modifications (# of loans)                    25,424        29,717   28,020   25,310   27,884   26,308   32,387   24,887   24,069   22,956    24,086     18,385     18,952      37,337

Type of Modifications (% )
Extend Term Only                                        9%           8%      8%        8%      10%     11%       12%      13%     12%       13%       11%        13%        12%         12%
Reduce Rate Only                                       30%          32%     31%       31%      30%     27%       24%      21%     22%       20%       18%        20%        19%         19%
Reduce Rate and Extend Term                            38%          37%     36%       38%      36%     34%       34%      35%     34%       34%       37%        35%        35%         35%
Reduce Rate, Extend Term and
                                                       19%          21%     22%       22%      23%     27%       29%      31%     31%       31%       34%        31%        33%         32%
Forbear Principal
Other                                                       4%       3%      3%        2%       2%      2%        1%      1%       1%        2%        1%         1%         1%             1%




* January 2012 loan modifications data have been revised.




             Please see glossary on page 15                                                                                                                                       Page 10
Federal Housing Finance Agency                                                                                                                Foreclosure Prevention & Refinance Report
                                                                                                                                                                         February 2012
 Appendix: Data Tables

3(ii) Fannie Mae - Loan Modifications *
                                                                                                                                                                                   YTD
                                                  Feb-11     Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12
                                                                                                                                                                                  2012


Loan Modifications (# of loans)                    13,560    17,576   16,671   16,419   17,246   17,540   23,779   18,706   17,511   16,070    18,355     13,660     14,308      27,968


Type of Modifications (%)
Extend Term Only                                        3%       2%      3%        5%       7%      9%       10%      11%     11%       11%        9%        12%        14%         13%
Reduce Rate Only                                       33%      35%     33%       33%      29%     26%       22%      19%     19%       17%       15%        17%        15%         16%
Reduce Rate and Extend Term                            37%      37%     36%       38%      38%     34%       34%      35%     35%       36%       38%        36%        36%         36%
Reduce Rate, Extend Term and
                                                       22%      24%     26%       24%      25%     31%       33%      35%     34%       35%       38%        35%        36%         35%
Forbear Principal
Other                                                   5%       3%      2%        1%       1%      1%        0%      0%       0%        0%        0%         0%         0%             0%




* January 2012 loan modifications data have been revised.




            Please see glossary on page 15                                                                                                                                    Page 11
Federal Housing Finance Agency                                                                                                      Foreclosure Prevention & Refinance Report
                                                                                                                                                               February 2012
 Appendix: Data Tables

3(iii) Freddie Mac - Loan Modifications
                                                                                                                                                                         YTD
                                          Feb-11   Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11    Dec-11     Jan-12    Feb-12
                                                                                                                                                                        2012

Loan Modifications (# of loans)           11,864   12,141   11,349    8,891   10,638    8,768    8,608    6,181    6,558    6,886     5,731      4,725      4,644       9,369



Type of Modifications (%)
Extend Term Only                             16%      16%     14%       15%      14%     15%       16%      18%     14%       15%       15%        13%         7%         10%
Reduce Rate Only                             26%      27%     27%       27%      31%     28%       30%      26%     28%       28%       27%        27%        32%         30%
Reduce Rate and Extend Term                  39%      37%     37%       38%      33%     34%       32%      33%     31%       31%       33%        34%        34%         34%
Reduce Rate, Extend Term and
                                             15%      16%     17%       17%      19%     19%       19%      17%     22%       21%       20%        21%        24%         23%
Forbear Principal
Other                                         4%       4%      4%        3%       3%      4%        4%      5%       5%        5%         5%        4%         3%             4%




         Please see glossary on page 15                                                                                                                             Page 12
Federal Housing Finance Agency                                                                                                                     Foreclosure Prevention & Refinance Report
                                                                                                                                                                              February 2012
 Appendix: Data Tables

4 Enterprises Combined - Home Forfeiture Actions (# of loans)

                                                                                                                                                                                        YTD
                                                   Feb-11         Mar-11   Apr-11   May-11   Jun-11   Jul-11   Aug-11   Sep-11   Oct-11   Nov-11   Dec-11     Jan-12     Feb-12
                                                                                                                                                                                       2012

Short Sales                                           7,827       10,110    9,701   10,082    9,700    8,914    9,508    9,842   10,703    9,910    11,172      9,653      9,772      19,425

Deeds-in-lieu                                               540      679      948      976      803      687      900      958      997      965     1,148      1,159      1,151       2,310

   Nonforeclosure -
                                                     8,367        10,789   10,649   11,058   10,503    9,601   10,408   10,800   11,700   10,875   12,320     10,812     10,923      21,735
   Home Forfeiture Actions*

Third-party Sales                                     2,662        3,578    6,003    4,699    4,266    3,943    3,428    3,531    3,189    3,026     3,180      3,613      3,109       6,722

Foreclosure Sales                                  21,754         32,074   26,665   25,656   26,929   21,382   23,754   23,347   22,050   23,542   25,043     24,337     21,436      45,773

  Third-party &
                                                   24,416         35,652   32,668   30,355   31,195   25,325   27,182   26,878   25,239   26,568   28,223     27,950     24,545      52,495
  Foreclosure Sales

Foreclosure Starts                                 66,477 101,962          78,216   91,143   81,499   76,361   73,287   74,214   78,536   66,206   73,607     90,123     66,174 156,297

Top Five Reasons for Delinquency
  Curtailment of Income                                     45%      43%      43%      43%      42%      42%      41%      40%      40%      40%       40%        41%        40%
  Excessive obligations                                     14%      14%      14%      14%      15%      15%      16%      16%      16%      16%       15%        15%        15%
  Unemployment                                               8%       8%       8%       8%       8%       8%       8%       8%       8%       8%        8%         8%         8%
  Illness of principal mortgagor or
                                                            5%       5%       5%        5%      5%       5%       5%       5%       5%       5%         5%         5%         5%
  family member
  Marital Difficulties                                      3%       3%       3%        3%       3%       4%       4%       4%       4%       4%        4%         4%         4%




* Short sales and deeds-in-lieu of foreclosure completed.




             Please see glossary on page 15                                                                                                                                        Page 13
Federal Housing Finance Agency                                                                                                                                                     Foreclosure Prevention & Refinance Report
                                                                                                                                                                                                               January 2012
Appendix: Data Tables


6 Fannie Mae and Freddie Mac - Refinance Volume (# of loans)

                                   Dec-10        Jan-11       Feb-11       Mar-11        Apr-11      May-11        Jun-11        Jul-11      Aug-11        Sep-11       Oct-11       Nov-11       Dec-11        Jan-12      Feb-12
Total Refinances
 Fannie Mae                        306,967      247,542      188,303      190,574       118,274      103,144      118,098       108,870      120,694      169,066      183,052       233,837      264,305      221,280     211,430
 Freddie Mac                       194,252      146,602      147,719       95,687        81,663       65,297       67,525        59,316       76,377       94,703      111,822       124,544      112,050      130,654     123,603
   Total                           501,219      394,144      336,022      286,261       199,937      168,441      185,623       168,186      197,071      263,769      294,874       358,381      376,355      351,934     335,033

HARP LTV >80% -105%
 Fannie Mae                         25,179       19,074        17,826       21,441       14,513       12,363        14,266       12,756       15,073        17,140       15,507       18,959       12,463        25,159      19,425
 Freddie Mac                        26,421       18,019        22,896       14,059       12,581        8,944         8,830        9,291        8,969        11,900       12,822       12,192        8,142        21,253      15,179
   Total                            51,600       37,093        40,722       35,500       27,094       21,307        23,096       22,047       24,042        29,040       28,329       31,151       20,605        46,412      34,604

HARP LTV >105% -125%
 Fannie Mae                           1,762        1,816        1,932        2,399         1,976        1,656        1,956        1,685         1,938        2,459        2,256         2,251        1,360        4,106          3,828
 Freddie Mac                          3,611        2,431        4,104        4,212         3,508        2,512        3,305        2,779         2,902        3,316        2,978         2,902        1,358        5,660          4,557
   Total                              5,373        4,247        6,036        6,611         5,484        4,168        5,261        4,464         4,840        5,775        5,234         5,153        2,718        9,766          8,385

HARP LTV >125%
 Fannie Mae                                                                                                                                                                                                                        753
 Freddie Mac                                                                                                                                                                                                                       795
   Total                                                                                                                                                                                                                         1,548

All Other Streamlined Refis
  Fannie Mae                62,514               45,074        40,919       54,424       36,440       35,370        40,710       32,895       38,963        50,236       39,297       50,879       52,010        41,623      41,913
  Freddie Mac               50,576               29,757        35,215       22,054       19,304       16,174        14,549       13,168       15,701        22,479       25,490       23,931       29,809        21,549      19,378
    Total                  113,090               74,831        76,134       76,478       55,744       51,544        55,259       46,063       54,664        72,715       64,787       74,810       81,819        63,172      61,291
Notes:
Initially HARP Refinance Loans were defined as Fannie Mae to Fannie Mae and Freddie Mac to Freddie Mac first-lien refinance loans with limited and no cash out that are owner-occupied with loan-to-value ratios over 80
percent up to 125 percent.
HARP 2.0: On October 24, 2011, FHFA, Fannie Mae and Freddie Mac announced HARP changes to reach more borrowers. Effective December 1, 2011, existing Enterprise borrowers who are current on their mortgage payments
can refinance and reduce their monthly mortgage payments at loan-to-value ratios above 80 percent without any maximum loan-to-value limit.
All Other Streamlined Refis are streamlined refinances that do not qualify as HARP refinances. Fannie Mae implements streamlined refinances through the Refi Plus product for manual underwriting and DU Refi Plus product for
loans underwritten through Desktop Underwriter. The product is available for refinances of existing Fannie Mae loans only. Freddie Mac implements streamlined refinances through the Relief Refinance Mortgage product. Loans




                                                                                                                                                                                                                   Page 14
 Federal Housing Finance Agency                                                                                                                         Foreclosure Prevention & Refinance Report
                                                                                                                                                                                   February 2012

FHFA produces monthly and quarterly versions of the Foreclosure Prevention & Refinance Report. In addition to the data provided in the monthly reports, the quarterly reports include the
following information: MHA program updates; benchmarking of the Enterprises’ delinquency rates; the type and depth of loan modifications; and the performance of modified loans.


Glossary
Data and definitions in this report have been revised relative to prior versions of the report. FHFA continues to work with the Enterprises to improve the comparability of reported data.

Section 1: Mortgage Performance                                                                        Loan Modifications - Number of modified, renegotiated, or restructured loans, regardless of
                                                                                                       performance-to-date under the plan during the month. Terms of the contract between the
Total Loans Serviced - Total conventional active book of business, excluding loans that were           borrower and the lender are altered with the aim of curing the delinquency (30 days or more
liquidated during the month.                                                                           past due).
Current and Performing - Loans that are making timely payments and are 0 months delinquent             Nonforeclosure-Home Forfeiture Actions- Short sales and deeds-in-lieu of foreclosure.
as of the reporting month.                                                                             These actions require borrowers to give up their homes. Although homes are forfeited,
Total Delinquent Loans - Loans that are at least one payment past due, i.e., total servicing           foreclosure alternatives generally have less adverse impact on borrowers and their credit
minus current and performing.                                                                          reports than foreclosure.
30-59 Days Delinquent - Includes loans that are only one payment delinquent.                           Short Sales - A short sale (also called a preforeclosure sale) is the sale of a mortgaged
60-89 Days Delinquent - Includes loans that are only two payments delinquent.                          property at a price that nets less than the total amount due on the mortgage (e.g., the sum
60-plus-days Delinquent - Loans that are two or more payments delinquent, including loans in           of the unpaid principal balance, accrued interest, advanced escrows, late fees, and
relief, in the process of foreclosure, or in the process of bankruptcy, i.e., total servicing minus    delinquency charges.) The servicer and borrower negotiate payment of the difference
current and performing, and 30 to 59 days delinquent loans. Our calculation may exclude loans          between the net sales price and the total amount due on the mortgage.
in bankruptcy process that are less than 60 days delinquent.                                           Deed(s)-in-lieu of Foreclosure - A loan for which the borrower voluntarily conveys the
Serious Delinquency - All loans in the process of foreclosure plus loans that are three or more        property to the lender to avoid a foreclosure proceeding.
payments delinquent (including loans in the process of bankruptcy).
In Bankruptcy - Loans in the process of bankruptcy; includes all delinquency status.                   Section 3: Loan Modifications

Section 2: Completed Foreclosure Prevention Actions                                                    Increase - Principal and interest after modification is higher than before the modification.
                                                                                                       No Increase - Original principal and interest is unchanged after the modifications.
Home Retention Actions - Repayment plans, forbearance plans, charge-offs in lieu of                    Decrease <=20% - Original principal and interest is decreased by 20 percent or less after
foreclosure, Home Saver Advances, and loan modifications. Home retention actions allow                 modification.
borrowers to retain ownership/occupancy of their homes while attempting to return loans to             Decrease >20% - Original principal and interest is decreased by more than 20 percent after
current and performing status.                                                                         modification.
Repayment Plans - An agreement between the servicer and a borrower that gives the borrower             Extend Term Only - Remaining term of the loan is longer after modification.
a defined period of time to reinstate the mortgage by paying normal regular payments plus an           Reduce Rate Only - Loan's rate is lower after modification.
additional agreed upon amount in repayment of the delinquency.                                         Reduce Rate and Extend Term - Loan's rate reduced and term extended.
Forbearance Plans - An agreement between the servicer and the borrower (or estate) to                  Reduce Rate, Extend Term, and Forbear Principal - Modification includes term extension,
reduce or suspend monthly payments for a defined period of time after which borrower                   rate reduction, and forbearance of principal.
resumes regular monthly payments and pays additional money toward the delinquency to bring             Other - A modification that does not fit in any of the above categories. The majority of these
the account current or works with the servicer to identify a permanent solution, such as loan          loans are capitalized modifications.
modification or short sale, to address the delinquency.
Charge-offs-in-lieu of Foreclosure - A delinquent loan for which collection efforts or legal           Section 4: Third-party Sales and Foreclosures
actions against the borrower are agreed to be not in the Enterprises' best interests (because of
reduced property value, a low outstanding mortgage balance, or presence of certain                     Third-party Sales - A third party entity purchases the property at the foreclosure
environmental hazards). The servicer charges off the mortgage debt rather than completing              sale/auction above the initial bid set forth by Fannie Mae or Freddie Mac.
foreclosure and taking the property title. The borrower retains the property. The unpaid               Foreclosure Starts - The total number of loans referred to an attorney to initiate the legal
mortgage balance becomes a lien on the borrower’s property, which must be satisfied when the           process of foreclosure during the month. These are loans measured as not being in
borrower transfers ownership.                                                                          foreclosure in the previous month but referred to foreclosure in the current month.
HomeSaver Advance (Fannie Mae) - An unsecured personal loan to a qualified borrower to                 Foreclosure Sales - The number of loans that went to foreclosure (sheriff's) sale during the
cure his or her payment defaults under a mortgage loan the Enterprises own or guarantee. The           month.
borrower must be able to resume regular monthly payments on his or her mortgage.



                                                                                                                                                                                     Page 15

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:1
posted:9/28/2012
language:English
pages:19